Analytical Standards Market - Industry Dynamics, Market Size, and Opportunity Forecast to 2027

The global analytical standards market generated a revenue of US$ 1,432.7 Mn in 2020 and is estimated to record a revenue of US$ 2,284.13 Mn by 2027, growing at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2027. The market growth over the forecast period reflects the recovery of the industry from COVID-19 and the subsequent growth trend. The research report offers analysis explained across 15 chapters totaling 149 pages, with 40 extensive data tables and 43 figures.

An analytical standard is a high purity compound with a defined concentration that is used as a calibration standard for a specific experiment. Increasing demand for such assays is due to growing concerns related to food safety. Food testing laboratories use techniques such as mass spectrometry, chromatography, and others to check for adulteration and ensure food safety. The most often used analytical techniques in food quality testing and control are chromatography and spectroscopy.  Furthermore, strict rules implemented by the government to maintain food safety across the globe boost the growth of the Global Analytical Standards Market. For instance, in July 2017, the Food Standards Australia New Zealand (FSANZ) imposed strict limits on the quantity of arsenic in rice (one milligram per kilogram). Similarly, as per the FSSAI (Food Safety and Standards Authority of India), the addition of alpha-tocopherols, mixed tocopherol concentrates and dl-alpha-tocopherol to oils is permitted to restore natural tocopherol lost in the refining process but the concentration of alpha-tocopherol in the final product shall not exceed 200 mg/kg. The analytical standards are required for such précised measurements and as a result, accelerate its demand during the forecast period. 

The biopharmaceutical sector uses the techniques like liquid chromatography/mass spectrometry (LC/MS) and gas chromatography/mass spectrometry (GC/MS); these techniques are gaining popularity as highly specific and sensitive methods of assessing items. The development of biopharmaceuticals has accelerated dramatically in recent years. Since its products are structurally complex, batch-to-batch variation is inevitable, and they are made up of heterogeneous combinations. As a result, in biopharmaceutical development and manufacture, well-characterized reference material is essential. According to Batavia Biosciences Data, the United States has almost 4,000 biopharmaceuticals in clinical trials, followed by Europe and Japan. The global analytical standards market is analyzed for the period of 2017 to 2027, wherein 2017-2019 are historic years, 2020 is considered as the base year, and 2021-2027 is the forecast period. 

Report Scope

The global analytical standard market is divided into five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa (MEA). North America held the largest share of the global market in 2020 and is expected to maintain its dominance over the projected period. This major market dominance is attributed to rising environmental concerns as well as increased pharmaceutical R&D efforts in the region. The Asia Pacific, on the other hand, is expected to develop at the fastest rate over the projection period, owing to the region's growing pharmaceutical industry and a high number of clinical trials. Europe holds the second-largest position in the global industry, owing to rising regulatory compliance for food safety and quality, as well as the expanding acceptance of analytical standards in a variety of end-use sectors such as pharmaceuticals, food & beverages, and others.

In 2020, Germany held the largest share in the  Europe analytical standard market

The research report includes global analytical standards market analysis on the basis of the following segments – category, technique, method, and application. It will help the individuals or businesses associated with the analytical standards market to identify the right market for their products. It offers a comprehensive textual and graphical analysis of the market determinants and segments. 

The study includes a comprehensible value chain analysis, global and regional opportunities, and market dynamics. It also shows the economic impact of the global marketplace with the help of  Porter's five forces analysis to evaluate various elements of the global market, such as supplier bargaining power, competitor competitive intensity, the threat of new entrants, the threat of substitutes, and buyer bargaining power. To examine the key factors like political, economic, social, technological, legal, and environmental affecting the market, the report includes a section dedicated to a PESTLE analysis. Following the high-level analysis section, the report includes the Covid-19 impact study and a comprehensive chapter of company profiles.

Covid-19 Impact Analysis

The coronavirus outbreak has brought all production activity to a halt in key manufacturing countries such as the United States, China, Germany, the United Kingdom, India, and France, among others. This has had a significant impact on manufacturer sales and profitability, as well as a drop in the overall industrial growth in important areas such as medicines, forensics, environmental, and others. Coronavirus has slowed the world economy's growth trajectory during the last decade. Due to the short-term negative growth of end-users across the globe, key market players in the global analytical standards market such as Merck KGAA, Agilent Technologies, PerkinElmer Inc., and others have experienced significant losses in their analytics instruments including analytical standards segmental revenue in the first quarter of 2020. The report includes covid-19 impact study at four levels including pre-covid (2017-2019), Short Term (2020-21), Mid Term (2022-24), and Long Term (2025-27). 

Report Glimpse

The growth of the global pharmaceutical and biotechnology sectors is a major driver of the global analytical standards industry. This can be attributed to the pharmaceutical and biotechnology industries' increased analytical testing. The biopharmaceutical industry's widespread use of analytical standards and life science reagents for biomarker research and development, drug discovery, biologic drug manufacture, and therapeutic medication monitoring is expected to boost the demand for analytical standards. Furthermore, rising concerns about food safety and quality are fueling the growth of the global analytical standards market. The increasing demand for packaged foods is a crucial factor in ensuring food safety and quality. Foodborne diseases, food intoxications, allergic reactions, mercury positioning, and other problems can all be caused by eating unsanitary food. According to a recent report published by the World Health Organization (WHO), 1.7 billion cases of diarrhea in children sickness would occur each year in 2020 over the world. However, a lack of public awareness about effective pollution monitoring could hamper the industry expansion. Understanding air pollution and providing support for its prevention and monitoring is critical, yet people, particularly in emerging nations, have a low degree of understanding. Furthermore, the expensive expense of monitoring equipment obstructs pollution's path.

Competition Landscape

The competition landscape section of the report offers an in-depth analysis of key players active in the global analytical standards market via primary as well as secondary research that covers descriptive profiles of 15 prominent players and the list can be customized as per the reader’s research requirements. Details covered for these players include – Business Description, Product Portfolio, Company Financials and Claims, Key Details, Strategy Outlook, and Recent Developments. The players profiled in the research report include are – Merck KGaA, Chiron AS, LGC Standards, Waters Corporation, Agilent Technologies, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Restek Corporation, SPEX Certi Prep, Accu Standard, Inc., Mallinckrodt, US Pharmacopeial Convention, Cayman Chemical Company, RICCA Chemical Company and GFS Chemicals, Inc.

Segmentation Outlook of the Global Analytical Standards Market

By Category

• Organic
• Inorganic

By Technique 

• Chromatography
• Spectroscopy
• Titrimetry

By Method 

• Material Testing
• Bioanalytical
• Dissolution 

By Application 

• Pharmaceutical
• Food & Beverages
• Forensics
• Environmental

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA